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Apricot Analytics (the DBA of RQC Holdings, Inc) is a product quality test lab serving the legal cannabis market in California. California is by far the largest cannabis market, valued at $3.0B in 2019 growing to $5.6B in 2022, and has an increasingly diverse range of new products including vape pens, beverages, food products, tinctures and topicals. By law, every product shipment must be tested for potency and purity by an independent licensed test lab. Mandatory testing creates an attractive investment opportunity. The rapidly growing market, combined with the challenging regulatory, technical, management and capital requirements to open a test lab, have resulted in an acute shortage of cannabis test capacity in California: 3,467 licensed producers and distributors served by only 38 licensed cannabis test labs. This presents a compelling opportunity with gross margins of 60%. Apricot Analytics’ business plan is to become profitable within one year, establish a differentiated product offering, and become an attractive acquisition candidate.